Report: Google to acquire map app Waze, Facebook retreats

After months of speculation about Facebook acquiring mobile mapping and navigation company, Waze, this time Google is reportedly drawing an end to all the doubts with news erupting that the search engine giant will close a deal soon. According to a report, the deal will fetch a whopping $1.3 billion to the mapping services start up company based in Israel.

The accusition will help Google in improving its mapping services further as well as help preventing encroachment by other mapping service providers in the line. News emerged last month that Facebook is keen in acquiring the company for a billion dollars but later both the companies called off the same after failing to reach any agreements.

Considered to be among the top five most-used applications on smartphones, mapping services are very crucial for engaging and retaining mobile users and with an overwhelming response for mobile devices, companies have started shifting their base to mobile applications. Founded in 2007, Waze helps user in getting directions and routing around traffic as it is a crowd sourced application with feeds coming from other drivers on road who provides information regarding traffic thus populating the same in the map.

Considered to be a competitor to Google’s own mapping services, Waze had 47 million users in 193 countries. Although Facebook is also delving deeper into mobile technology, but unfortunately couldn’t make it this time. Google as well as Waze declined to comment on the report though.

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Source : Google